Andrew
Online Reporter
ZIMBABWE’S economy continues to register positive gains after recording a decline in the import bill, latest statistics show.
The country registered a sharp decrease in the trade deficit to US$88,1 million in January 2022 down from US$179, 9 million in December 2021, the Zimbabwe National Statistics Agency (Zimstat) has said.
The 18 percent decrease in the import bill managed to offset an 8 percent decrease in export earnings in the first month of the year.
In a Tweet on Thursday, Zimstat said semi-manufactured gold (34,6 percent), tobacco (21,6 percent and nickel mattes (14 percent) dominated exports, while mineral fuels (15,1 percent), fertilisers (11,8 percent) and machinery equipment (10,2 percent) dominated imports.
“Imports decreased by 18 percent to US$632 million in January 2022 from US$771, 2 million in December 2021,” said Zimstat.
“The value of total exports in January 2022 was US$543, 9 million, signifying a decrease of 8 percent from total export earnings of US$591,2 million in December 2021.
“Consequently, there was a sharp decrease in trade deficit to US$88,1 million in January 2022 from US$179, 9 million in December 2021.”
Bongani Ndlovu
Online Reporter